Didi’s self-driving unit raises over USD500m in first funding round led by SoftBank Vision Fund 2

Didi Chuxing announced that its self-driving unit has completed the first round of financing, raising more than 500 million US dollars to invest further in research and development, deepen industrial cooperation, and accelerate the deployment of self-driving applications in specific areas at home and abroad to further improve travel safety and efficiency.

Didi Chuxing announced that its self-driving unit has completed the first round of financing, raising more than 500 million US dollars to invest further in research and development, deepen industrial cooperation, and accelerate the deployment of self-driving applications in specific areas at home and abroad to further improve travel safety and efficiency.

Didi began development and testing of self-driving vehicles in 2016, and spun off its autonomous driving division into an independent company in 2019.

This is the first funding round of the self-driving unit of Didi Chuxing, and it is the single largest financing for a Chinese self-driving enterprise. The round was led by was led by SoftBank Vision Fund 2.

Didi has open-road self-driving testing licenses in Beijing, Shanghai, Suzhou and the US state of California. The self-driving unit will also work with Didi’s Xiaoju Automobile Solutions, and Didi Finance to develop comprehensive solutions for future traveling including smart charging networks, fleet maintenance, and insurance among others.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/02/didis-self-driving-unit-raises-over-usd500m-in-first-funding-round-led-by-softbank-vision-fund-2/.

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